- Lead Product Candidate, Liposomal Grb-2 Continues to Progress through Clinic -
Bio-Path Holdings Reports Second Quarter 2012 Operational and Financial Results
<0> Bio-Path Holdings, Inc.Peter NielsenPresident & Chief Executive Officer832-971-6616orRx Communications Group, LLCRhonda Chiger (institutional investors and analysts)917-322-2569orPondel/Wilkinson Inc.Roger Pondel (individual, retail investors)310-279-5980 </0>
Bio-Path Holdings, Inc. (OTCQX: BPTH) (“Bio-Path”), a biotechnology company developing a liposomal delivery technology for nucleic acid cancer drugs, today announced operational and financial results for the quarter ended June 30, 2012.
“We reached significant milestones during the second quarter with the completion of Cohort 3 of our Phase I clinical trial evaluating our lead drug candidate Liposomal Grb-2 and the arrival of our first drug batch from the increased capacity drug supply chain that we put in place. We are also very encouraged by the safety performance of Liposomal Grb-2 and benefit that patients appear to be receiving from treatment with the drug. Patients in our trial are typically in advanced stages of the disease, and the fact that treatment with Liposomal Grb-2 is stabilizing their condition is very positive,” said Peter Nielsen, President and Chief Executive Officer of Bio-Path Holdings. “It is also important to note that we already have two patients enrolled in Cohort 4, which indicates that the positive trend for shortened time to complete a cohort is continuing. Additional signs of positive benefit from treatment with Liposomal Grb-2 is that the principal investigator of the trial has placed sixpatients from the trial on extended treatment plans.
“Finally, the Company has had good success to date raising funds through our latest private placement. We are confident that we will achieve our goal of raising $2 million in cash from the sale of our common stock by the end of 2012, which is more than sufficient to support our current programs.”
Bio-Path’s drug delivery technology involves microscopic-sized liposome particles that distribute nucleic acid drugs systemically and safely throughout the human body, via simple intravenous infusion. The delivery technology can be applied both to single stranded (antisense) nucleic acid compounds and double stranded (siRNA) with the potential to revolutionize the treatment of cancer and other diseases where drugable targets of disease are well characterized. The Company’s current focus is on developing liposomal antisense drug candidates. Bio-Path also anticipates developing liposome tumor targeting technology, representing next-generation enhancements to the Company’s core liposome delivery technology.
The adaptor protein Growth Receptor Bound protein-2 (Grb-2) is essential to cancer cell signaling because it is utilized by oncogenic tyrosine kinases to induce cancer progression. Suppressing the function or expression of Grb-2 should interrupt its vital signaling function and have a therapeutic application in cancer. BP-100.1.01is a neutral-charge, liposome-incorporated antisense drug substance designed to inhibit Grb-2 expression.
Bio-Path is a biotechnology company focused on developing therapeutic products utilizing its proprietary liposomal delivery technology designed to systemically distribute nucleic acid drugs throughout the human body with a simple intravenous transfusion. Bio-Path’s lead product candidate, Liposomal Grb-2, is in a Phase I study for blood cancers. Bio-Path’s second drug candidate, also a liposomal antisense drug, is ready for the clinic where it will be evaluated in lymphoma and solid tumors.
For more information, please visit the Company's website at .